Idaho Code
Idaho Code § 33-5401 (2026)
Definitions.
✓ text as last checked Oct. 2026 (this copy records no edition or section history)
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Definitions.
As used in this chapter, the following terms have the following meanings unless the context clearly denotes otherwise:
(1) "Account" means an individual trust account or savings account established as prescribed in this chapter.
(2) "Account owner" means the person or state or local government organization designated in the agreement governing the account as having the right to withdraw moneys from the account before the account is disbursed to or for the benefit of the designated beneficiary.
(3) "Board" means the state college savings program board created in section 33-5402, Idaho Code.
(4) "Designated beneficiary," except as provided in section 33-5404, Idaho Code, means, with respect to an account, the individual designated at the time the account is opened as the individual whose higher education expenses are expected to be paid from the account or, if this designated beneficiary is replaced in accordance with section 33-5404, Idaho Code, the replacement beneficiary.
(5) "Eligible educational institution" shall have the meaning provided in 26 U.S.C. 529.
(6) "Financial institution" means any state bank, national bank, savings bank, savings and loan association, credit union, insurance company, brokerage firm, trust company, mutual fund, investment firm or other similar entity that is authorized to do business in this state.
(7) "Member of the family" shall have the meaning as provided in 26 U.S.C. 529.
(8) "Nonqualified withdrawal" means a withdrawal from an account that is subject to additional tax arising from the withdrawal under the Internal Revenue Code, as defined in section 63-3004, Idaho Code. For the purpose of section 63-3022(o), Idaho Code, the amount of a nonqualified withdrawal from an account means the entire amount of the withdrawal, less any portion of the withdrawal that is a qualified withdrawal.
(9) "Person" means an individual, a trust, an estate, a partnership, an association, a foundation, a guardianship, a corporation, or a custodian under the Idaho uniform transfers to minors act.
(10) "Program" means one (1) or more college savings programs established under this chapter.
(11) "Qualified higher education expenses" shall have the meaning provided in 26 U.S.C. 529.
(12) "Qualified withdrawal" means a withdrawal from an account used for qualified higher education expenses of the designated beneficiary of the account, but only if the withdrawal is made in accordance with this chapter.
Notes of Decisions
Cited in 2
cases, 2009–2017 · leading case: In re Bourguignon, 416 B.R. 745 (Bankr. D. Idaho 2009).
In re Bourguignon, 416 B.R. 745 (Bankr. D. Idaho 2009). “See I.C. §§ 33-5401 to 33-5410. 6 .Exemptions from creditor collection activities may be another residency-based benefit.”
In re Acarregui, 572 B.R. 247 (Bankr. D. Idaho 2017). “Debtor contends this interpretation is preferable because Idaho Code § 33-5401 (6), part of the laws establishing the IDEAL program, defines “financial institution,” to include, “any .”
Idaho Code § 33-5401(6): 1 case
In re Acarregui, 572 B.R. 247 (Bankr. D. Idaho 2017). “Debtor contends this interpretation is preferable because Idaho Code § 33-5401 (6), part of the laws establishing the IDEAL program, defines “financial institution,” to include, “any .”
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